Mr. Ian Simister reports

CEIBA ENERGY SERVICES ANNOUNCES STOCK OPTION GRANT

Ceiba Energy Services Inc. has granted a total of 1.25 million stock options to officers and certain independent directors of Ceiba at an exercise price of 95 cents.

The stock options have been granted pursuant to Ceiba's 10-per-cent rolling stock option plan and will expire five years from the date of grant. All of the stock options vest as to one-third thereof starting at the date of grant and at the next two anniversaries of the date of grant. Subsequent to this stock option grant Ceiba will have a total of 7.64 million stock options outstanding.